Home Prices Up Over 10 Percent Year to Date

By Nancy Minor

Traditionally as our children head off to school, our real estate market starts to slow down. 

Most buyers make home-buying decisions between March and July. This means they are able to begin the school year with their children settled into their new school.  

It is for that reason that August is one of our slower closing months. Homes sell year round and in a strong market like we have right now, it may not be as obvious that the market is softer. 

So this next month may mean less under contract signs in Peachtree Corners. Lets see where the market is and what to expect in August.

In the month of July, 41 homes were closed in Peachtree Corners. There are presently 58 homes with pending contracts, that will most likely close in August or September. 

There are currently 100 homes on the market. There is a 3-month supply of homes on the market which has been constant most of the year. Year to date, 222 homes sold in Peachtree Corners. This is up from the same period last year when 193 homes sold. 

The average price year-to-date is $319,581 compared to $285,679 in the same period in  2012. This represents an increase of almost 11 percent.

It is exciting to watch the market continue to recover. We continue to have a market that favors sellers in most neighborhoods. We have a few communities where the market is in balance between buyers and sellers. Buyers continue have the advantage in some communities.

Where is your neighborhood in today’s market? Contact your Realtor or Nancy Minor to find how your home is recovering from the previous decline in home prices. To see prices in today’s market you may start at PeachtreeCorners.com.

You may reach Nancy Minor at nancy@minor.net or 404-955-7653.

Open House this weekend 5123 Creek Walk Circle Sunday, Aug. 11, 2-4 p.m.